FOR IMMEDIATE RELEASE
Newly Formed HWD Acquisition, Inc. Acquires Hurd®
New Ownership Paves the Way for Growth of Hurd
Medford, WI – December 23, 2008 – HWD Acquisition, Inc., a newly formed company owned by Longroad Asset Management, LLC., announced that it has purchased the assets of Hurd Windows & Doors, Inc. The company previously announced Longroad’s Definitive Purchase Agreement on November 20, 2008.
HWD Acquisition will retain the assets, including the Hurd® brand, as well as the employees and management team of the company. This year the Hurd brand will celebrate 90 years of manufacturing custom wood windows and doors.
“This ownership change establishes a solid foundation for the future success of the Hurd brand,” said HWD Acquisition President Dominic Truniger. “Despite being in an industry that is currently facing far more capacity than demand, the Hurd brand has actually doubled in market share since 2005. Now as part of the Longroad portfolio and newly infused with significant capital, we see even greater opportunities for our future and are confident in our ability to continue growing at a remarkable pace.”
According to Longroad’s Steve Zambito, the incoming Chairman of Hurd, “The Hurd brand is now backed by one of the strongest balance sheets in the industry.” He added that this speaks volumes about the company’s position to pioneer new products, better support its loyal domestic and international distributor base, and even pursue future acquisitions.
Hurd’s products will be featured at the industry’s largest trade event – The International Builders’ Show - on January 20-23, 2009 in Las Vegas, booth C4265. The company will be debuting many new products at the event, including its new highly anticipated, technically- advanced, mid-priced H3™ casement.
About Hurd/HWD Acquisition, Inc.
HWD Acquisition, Inc. is headquartered in Medford, Wisconsin. The company recently acquired Hurd Windows & Doors, Inc., a brand with a 90-year tradition of building custom wood windows and doors to the highest standards of excellence and quality. Hurd products, which are sold exclusively through more than 400 distributors in the United States and Canada, and in 20 countries worldwide, are manufactured by approximately 600 craftsmen. With factories in Medford and Merrill, Wisconsin, Hurd products are manufactured in more than 1 million square feet of production space. For more information, visit www.hurd.com or call (715) 748-2011. Toll free: 1-800-433-4873.